Agree Realty (NYSE:ADC) Stock Rating Upgraded by Wall Street Zen

Agree Realty (NYSE:ADC) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Monday.

ADC has been the subject of several other reports. Barclays boosted their price objective on Agree Realty from $77.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 3rd. Royal Bank Of Canada dropped their price target on Agree Realty from $80.00 to $79.00 and set an “outperform” rating for the company in a research report on Tuesday, January 6th. Truist Financial decreased their price objective on Agree Realty from $84.00 to $82.00 and set a “buy” rating on the stock in a report on Friday, October 24th. KeyCorp lifted their target price on shares of Agree Realty from $80.00 to $82.00 and gave the stock an “overweight” rating in a research note on Friday, October 24th. Finally, Evercore ISI reduced their target price on shares of Agree Realty from $85.00 to $83.00 and set an “outperform” rating for the company in a research report on Monday, December 15th. Eight research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Agree Realty presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.23.

Agree Realty Stock Up 1.7%

Shares of ADC stock opened at $73.23 on Monday. The stock has a 50 day moving average of $72.78 and a 200 day moving average of $72.69. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.59. The stock has a market cap of $8.42 billion, a P/E ratio of 42.82, a P/E/G ratio of 2.27 and a beta of 0.55. Agree Realty has a twelve month low of $68.98 and a twelve month high of $79.65.

Agree Realty (NYSE:ADC) last released its quarterly earnings data on Tuesday, October 21st. The real estate investment trust reported $1.10 EPS for the quarter, topping the consensus estimate of $1.08 by $0.02. The business had revenue of $183.22 million for the quarter, compared to analyst estimates of $181.87 million. Agree Realty had a return on equity of 3.52% and a net margin of 28.11%.The business’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.03 EPS. Agree Realty has set its FY 2025 guidance at 4.310-4.330 EPS. As a group, sell-side analysts expect that Agree Realty will post 4.27 EPS for the current year.

Insider Activity at Agree Realty

In other news, Chairman Richard Agree acquired 24,000 shares of the business’s stock in a transaction that occurred on Friday, January 9th. The stock was purchased at an average cost of $70.67 per share, for a total transaction of $1,696,080.00. Following the completion of the transaction, the chairman owned 159,855 shares in the company, valued at approximately $11,296,952.85. This trade represents a 17.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Peter Coughenour bought 500 shares of Agree Realty stock in a transaction on Friday, January 9th. The shares were purchased at an average cost of $69.80 per share, for a total transaction of $34,900.00. Following the completion of the purchase, the chief financial officer directly owned 18,544 shares of the company’s stock, valued at $1,294,371.20. This trade represents a 2.77% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders bought 39,500 shares of company stock valued at $2,813,680. 1.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ADC. Farther Finance Advisors LLC raised its position in Agree Realty by 408.0% in the second quarter. Farther Finance Advisors LLC now owns 381 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 306 shares during the period. Westside Investment Management Inc. increased its position in shares of Agree Realty by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 430 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 215 shares during the last quarter. Wiser Advisor Group LLC purchased a new stake in Agree Realty in the 3rd quarter valued at about $32,000. Cornerstone Planning Group LLC lifted its position in Agree Realty by 1,513.3% in the third quarter. Cornerstone Planning Group LLC now owns 484 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 454 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Agree Realty by 158.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 580 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 356 shares during the last quarter. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

Agree Realty Company Profile

Agree Realty Corporation (NYSE: ADC) is a publicly traded real estate investment trust headquartered in Chicago, Illinois. Founded in 1971, the company converted to a REIT structure in 2013 and focuses on acquiring, developing and managing a diversified portfolio of retail properties under long-term, triple-net (NNN) leases. Its tenant roster spans national and regional retailers in sectors such as grocery, home improvement, convenience and specialty retail.

Agree Realty’s primary business activities include sourcing and underwriting new property acquisitions, originating build-to-suit projects and executing value-add redevelopment programs.